Levin Johnston Of Marcus & Millichap Facilitates $8.25M Sale Of Archer Gardens Apartments In Salinas

Archer Gardens Apartments is a multifamily property located at 633 Archer Street in Salinas, featuring 32 units constructed in 1972. The property has a sale price of $8,250,000, resulting in a price per unit of $257,813.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $8,250,000
• Units: 32
• Price Per Unit: $257,813
• Market: Salinas
• Address: 633 Archer Street

Levin Johnston of Marcus & Millichap facilitated the transaction involving Archer Gardens Apartments. The buyer is focusing on long-term value in a supply-constrained market, while the seller intends to reinvest in a larger multifamily asset.